EMC to push VMware public, but still keep control

EMC said Wednesday it plans to sell 10 percent of VMware stock this summer in an initial public offering, but added it has no plans to spin off the virtualization company.

"VMware is one of the fastest-growing businesses in the history of the software industry. We expect the IPO to unlock more of VMware's value for EMC shareholders while also strengthening its ability to retain and attract the software industry's top talent," EMC Chief Executive Joe Tucci said in a statement.